US Chocolate Market to Reach $30B

June 20, 2016

According to a report by Research and Markets, the chocolate market in the U.S. is projected to reach $30 billion by 2021

According to a report by Research and Markets, the chocolate market in the U.S. is projected to reach $30 billion by 2021. An increasing number of product offerings by private-label brands at affordable prices and shifting consumer preferences towards chocolate with health benefits are cited as two key factors that are driving market growth. As the largest chocolate market in the world, the U.S. is seeing surging demand for premium, dark and sugar-free chocolates. The increasing use of chocolates in food and beverages, changing consumer tastes and preferences, and a growing chocolate gifting culture during special occasions are also contributing growth factors. A wide and organized retail distribution network continues to boost sales of chocolate. In 2015, supermarkets/hypermarkets accounted for the largest share of sales in the U.S. chocolate market. By segment, the market was dominated by countline and seasonal chocolates, which accounted for a cumulative revenue share of approximately 65 percent. Related: Candy Sales on the Rise; Almost Half of Cocoa from the Ivory Coast Rejected.